Zacks: Brokerages Anticipate PC Connection, Inc. (NASDAQ:CNXN) Will Announce Earnings of $0.58 Per Share

Analysts expect that PC Connection, Inc. (NASDAQ:CNXN) will announce $0.58 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for PC Connection’s earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.59. PC Connection reported earnings per share of $0.51 in the same quarter last year, which suggests a positive year-over-year growth rate of 13.7%. The company is scheduled to report its next earnings report on Thursday, November 7th.

On average, analysts expect that PC Connection will report full year earnings of $2.73 per share for the current financial year, with EPS estimates ranging from $2.67 to $2.79. For the next financial year, analysts anticipate that the company will post earnings of $2.85 per share, with EPS estimates ranging from $2.84 to $2.85. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow PC Connection.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Thursday, August 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.19. PC Connection had a return on equity of 13.23% and a net margin of 2.61%. The business had revenue of $741.10 million during the quarter, compared to analyst estimates of $719.44 million. During the same quarter last year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year.



A number of equities research analysts have recently issued reports on the company. Sidoti upgraded PC Connection from a “neutral” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Friday, August 2nd. BidaskClub upgraded PC Connection from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Zacks Investment Research upgraded PC Connection from a “hold” rating to a “strong-buy” rating and set a $46.00 target price for the company in a research note on Monday, August 5th. Finally, ValuEngine lowered PC Connection from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

Hedge funds and other institutional investors have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new stake in PC Connection during the 1st quarter valued at approximately $37,000. Great West Life Assurance Co. Can acquired a new stake in PC Connection during the 4th quarter valued at approximately $58,000. Legal & General Group Plc grew its stake in PC Connection by 23.6% during the 4th quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock valued at $67,000 after purchasing an additional 431 shares in the last quarter. Assetmark Inc. grew its stake in PC Connection by 30.4% during the 2nd quarter. Assetmark Inc. now owns 2,294 shares of the company’s stock valued at $80,000 after purchasing an additional 535 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in PC Connection by 345.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,399 shares of the company’s stock valued at $88,000 after purchasing an additional 1,861 shares in the last quarter. Hedge funds and other institutional investors own 41.80% of the company’s stock.

Shares of CNXN stock traded down $1.46 during trading hours on Wednesday, reaching $35.31. The company had a trading volume of 25,859 shares, compared to its average volume of 61,759. The company has a quick ratio of 1.80, a current ratio of 2.35 and a debt-to-equity ratio of 0.02. PC Connection has a twelve month low of $27.04 and a twelve month high of $43.05. The stock has a market capitalization of $970.35 million, a P/E ratio of 14.90, a P/E/G ratio of 1.69 and a beta of 1.16. The company’s fifty day simple moving average is $34.92.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.

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